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Preliminary FY2026 revenue close: town projects modest surplus to free cash
Summary
Town staff presented a near‑final revenue report for fiscal 2026 showing several categories below forecast but an overall excess of approximately $533,000 that will be part of free cash certified by the Department of Revenue in October; the manager flagged fees and investment income as underperforming lines.
Town staff presented a preliminary close of revenue for fiscal year 2026 and noted several variances from budgeted forecasts. "FY '26 actual, we collected 313,000," the town manager said for a particular revenue line, and he explained that some categories—most notably fees and earnings on investments—fell short of forecast. The manager emphasized that the consolidated result still shows a net positive and that the Department of Revenue will certify free cash around Oct. 1.
Officials said several accounting and reporting changes affected the presentation of categories (a new chart of accounts brought into alignment with other communities by the interim accounting firm). The manager explained that "other available sources" and indirect charges from enterprise funds required reconciliation and that the town had conserved several large balances tied to one‑time capital activity. He told the board the approximately $500,000 in excess revenue would sit in the town's bank account until the Department of Revenue certifies it as free cash and town meeting appropriates any use.
